Blockbuster Ebitda to exceed estimate; same-store sales up

RobertDaniel

TEL AVIV (MarketWatch) -- Blockbuster Inc.,
BBI, -2.50%
the Dallas media-entertainment rental chain, said on Thursday that adjusted fourth-quarter earnings before interest, taxes, depreciation and amortization exceeded its estimated range of $300 million to $315 million as domestic same-store sales rose 4.4%. The increase in comparable-store sales included rises of 2.6% in rentals and nearly 37% in retailing, including sales of games, game merchandise and consumer electronics. Chairman and Chief Executive Jim Keyes said in a statement that the company is working "diligently to resolve the August 2009 debt maturities, aggressively reduce costs, and maximize the company's strong cash-flow generation." The company expects to report full financials on March 19 after Wall Street trading closes.

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